LAZ has been the subject of a number of other reports. Zacks Investment Research raised Lazard from a sell rating to a hold rating in a research note on Tuesday, August 30th. TheStreet raised Lazard to a buy rating in a research note on Thursday, August 18th. Finally, Credit Suisse Group AG reaffirmed a buy rating on shares of Lazard in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $49.11.
Shares of Lazard (NYSE:LAZ) traded down 0.31% on Wednesday, reaching $35.87. The company had a trading volume of 204,815 shares. The company has a market capitalization of $4.46 billion, a P/E ratio of 6.78 and a beta of 2.20. The company has a 50 day moving average of $36.54 and a 200-day moving average of $35.08. Lazard has a 52 week low of $26.21 and a 52 week high of $49.57.
Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $542.30 million for the quarter, compared to analyst estimates of $542.68 million. Lazard’s revenue was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Analysts predict that Lazard will post $2.85 earnings per share for the current fiscal year.
In related news, Director Jane L. Mendillo bought 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average cost of $35.22 per share, for a total transaction of $49,308.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Scott D. Hoffman sold 42,000 shares of Lazard stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $34.92, for a total value of $1,466,640.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAZ. Geode Capital Management LLC increased its stake in shares of Lazard by 2.3% in the first quarter. Geode Capital Management LLC now owns 771,208 shares of the company’s stock worth $29,922,000 after buying an additional 17,551 shares during the period. Strs Ohio increased its stake in shares of Lazard by 28.7% in the second quarter. Strs Ohio now owns 1,993,000 shares of the company’s stock worth $59,351,000 after buying an additional 445,000 shares during the period. State Street Corp increased its stake in shares of Lazard by 3.1% in the first quarter. State Street Corp now owns 1,623,623 shares of the company’s stock worth $62,998,000 after buying an additional 49,394 shares during the period. BlackRock Inc. acquired a new stake in shares of Lazard during the first quarter worth about $414,000. Finally, BB&T Securities LLC increased its stake in shares of Lazard by 23.5% in the first quarter. BB&T Securities LLC now owns 6,566 shares of the company’s stock worth $254,000 after buying an additional 1,251 shares during the period.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.
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